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Author Question: Let the production function be q=ALaKb. The function exhibits decreasing returns to scale if A) a ... (Read 95 times)

erika

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on: Jul 1, 2018
Let the production function be q=ALaKb. The function exhibits decreasing returns to scale if
 
  A) a + b = 1.
  B) a+ b > 1.
  C) a + b < 1.
  D) Cannot be determined with the information given.

Question 2

Which of the following collective consumption goods does not become a private consumption good at some level of use?
 
  a. highway
  b. swimming pool
  c. national defense
   d. television


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nixon_s

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Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

c


erika

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Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

daiying98

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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